Cerber sneaks onto US government website

The widespread Bitcoin extortion Cerber is famous for many vicious activities, including stealing passwords of browsers and data for logging into cryptocurrency wallets.

Nowadays, the computer researchers have uncovered a ransomware on the website of the US National Wildfire Coordinating Group (NWCG).

It is unclear how long the ransomware has been embedded on the official government website and if the malicious file was able to victimize someone. According to the information provided by cointelegraph.com, the file was already removed, however, the fact that it was able to penetrate an official .gov domain is disturbing.

Thus, as reported, the file hosted a downloader for the Cerber ransomware. In generall, Cerber attacks by encrypting files on an infected device and makes them inaccessible until the owner agrees to pay a ransom in Bitcoin.

Cerber ransomware

It is believed that the government's site was hacked or the file was included in an email sent to a government official. The NWCG has not issued a public statement or provided additional information on the discovery and successful removal of the malicious file.

German Financial Regulator Clarifies Stance on ICOs

The Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) has clarified its position on ICOs

22 February 2018
52

German financial regulator admitted it was receiving many inquiries about the status of tokens and cryptocurrencies. According to an advisory letter, BaFin provides some basic definitions of ICOs and related terms. It is important because the results of a new survey showed that more than two-thirds of Germans know about bitcoin.

In this letter, BaFin educates the public and explains how tokens are typically generated, how blockchain works and that ICOs are used to raise funds for startup projects. The note states that for regulatory purposes, ICOs, tokens, coins, and cryptocurrencies are subject to the existing provisions in the field of securities supervision and other relevant national and EU laws.

The authority advises participants in ICOs to check and follow rules applicable to regulated financial instruments, such as securities. If businesses or individuals have any doubts about regulations, they should approach BaFin.

According to BaFin, companies should fulfill any obligations under the Banking Act and the Capital Investment Code, the Insurance Supervision Act and the Payment Services Supervision Act. The transactions may be prohibited if relevant regulatory requirements are not met.

The authority also states that legal classification of tokens requires precise examination. It will determine their status on a case-by-case basis after studying their features. The token should be transferable and tradable on cryptocurrency trading platforms in order to be classified as a security.